By Andrew M. Ballard
RALEIGH, N.C.--A proposed amendment to Tennessee's Constitution that would prohibit state or local income and payroll taxes (S.J.R. 1) received final approval by the state Legislature April 8.
Both the House and Senate during two consecutive legislative sessions have now approved the proposed amendment, so it will go before voters during the November 2014 elections. The measure does not require approval by the governor.
According to state Rep. Glen Casada (R), House sponsor of the Senate joint resolution, the move was needed to clarify a constitutional ban. Tennessee currently does not impose a state income tax other than on stock and bond earnings, but the state Constitution does not expressly prohibit or authorize a state income tax.
In addition to banning a state income tax, the constitutional amendment would prohibit local taxation of payroll or earned personal income.
By Andrew M. Ballard
Text of the income tax resolution (S.J.R. 1) is at http://www.capitol.tn.gov/Bills/108/Bill/SJR0001.pdf.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)